Dear Stakeholders and Partners
We continued to be in slow growth phase for the year ended March 2020as the world continues to be slowing down. There has not been much changes in the demandgrowth of our partners licensees and customers.
However revenue from our Water Soluble Film and other traded productshas shown some light at the end of the tunnel.
On the Finance side we successfully shored our anticipated financeneeds by initiating and completing our rights issue within a record time. This ensuredthat we don't have a cash flow issue even while we are investing in our committedprojects.
Your company implemented the Arrow RND Centre what we call as PatentIncubation Centre investing in Men Machine and Materials towards creating importsubstitutes proof of concept pilot project workable quantities of patented products. Thiswill now be taken up by our efficient marketing team to look for avenues for morerevenues.
Our subsidiary Avery Pharmaceuticals Private Limited which is focusedon our patented technology of Actives Embedded WSF as a Novel Drug Delivery System(NDDS) shall start commercial production soon and are well on their way towards maidenrevenues. Our Security Plant has successfully started production and we expect thisbusiness to bring more revenues going forward.
We are working to overcome the fire mishap in the factory as alreadyreported however the non-affected plant actually produced and sold more water solublefilms during this difficult times I congratulate the operations and manufacturing teamsfor accomplishing this onerous feat. Water Soluble Department will now aggressively focuson export markets going forward.
Your company is always focused on Hon. Prime Minister's call on Make InIndia and have been actively pursuing various GOI procurement tender bids. We intend toaggressively look at these niche products which are basically import substitutescreating bigger opportunities for your Company.
Your company intends interalia to focus on Patent Division moreaggressively and fortify our patent division so as to get revenues from out-licensingcompensations from infringements better revenues from our own patented product.
While we continue to make meaningful investments in people processesResearch & Development Intellectual Property and Technology we will continue tofocus newer greener and Eco-friendly technologies innovated in different geographiesglobally bring them to India for transformation of our future business.
While we continue to ignite our creativity and endure to deliver valuefor our shareholders in the long term perspective we hope and expect a robust turnaroundin overall performance of your Company.
Finally I would like to thank all our employees Board of Directorsall the shareholders and well wishers for their unstinted support to the Company who arethe pillars and back bone of your company.
|Shilpan P. Patel |
|Chairman& Managing Director |